AUDUSD: Standing Aside as Prices Consolidate
AUDUSD is in consolidation mode between 1.0245 and 1.0452 after taking out falling trend line resistance set from late February. We do not see an actionable trade setup here for now and will wait for the pair to offer greater directional conviction to look for entry opportunities.
Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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